Cullum offer isn't worth the paper it's written on...

[Saint Canary 0]

[quote user="Old Boy"]It''s not that the offer wasn''t worth the paper it was printed on - it wasn''t even an "offer", in the sense of an offer to buy the Club. It was an opportunist offer of money, in two stages, to buy players, with no extra sum for the shares or provision for loan repayments, and in return for that he expected total control of the Club. It was rejected, understandably, and the ball''s now in PC''s court (and has been since October) - if he''s genuine he''ll come back with a sensible offer. This Archant "bombshell" is another piece of PC opportunism - he''s waited (remember this offer was made 9 months ago) until the eve of pre-season, when we''re desperately trying to get a squad together and focus on the new season, and I don''t think it''s done the Club any good - forget the Board, I''m talking about the Club. Possibly he feels that if he destabilises it further by stirring up discontent among the fans he can get a better deal - who knows? I''m not impressed - if he''d had the best interests of the Club at heart, he''d have done a deal as soon as possible after the end of the season, so GR could look at a bringing in a better standard of player. Put up or shut up, Mr. Cullum.[/quote]I agree in part with Old Boy.  I think if Cullum is serious about buying and Delia is indeed interested in selling to the "right buyer" then both sides need to get things done and dusted ASAP for the good of the club.  Having this drag on over the close season will do nobody involved any good and could do the club harm.Anyone else get ther feeling that negotions are a bit further along than stated though?  Delia appears to have pre-empted Cullums "bombshell" from yesterday with her "wait and see" comments last week.

[Good News Gordon 0]

[quote user="Saint Canary"][quote user="Old Boy"]It''s not that the offer wasn''t worth the paper it was printed on - it wasn''t even an "offer", in the sense of an offer to buy the Club. It was an opportunist offer of money, in two stages, to buy players, with no extra sum for the shares or provision for loan repayments, and in return for that he expected total control of the Club. It was rejected, understandably, and the ball''s now in PC''s court (and has been since October) - if he''s genuine he''ll come back with a sensible offer. This Archant "bombshell" is another piece of PC opportunism - he''s waited (remember this offer was made 9 months ago) until the eve of pre-season, when we''re desperately trying to get a squad together and focus on the new season, and I don''t think it''s done the Club any good - forget the Board, I''m talking about the Club. Possibly he feels that if he destabilises it further by stirring up discontent among the fans he can get a better deal - who knows? I''m not impressed - if he''d had the best interests of the Club at heart, he''d have done a deal as soon as possible after the end of the season, so GR could look at a bringing in a better standard of player. Put up or shut up, Mr. Cullum.
[/quote]

I agree in part with Old Boy.  I think if Cullum is serious about buying and Delia is indeed interested in selling to the "right buyer" then both sides need to get things done and dusted ASAP for the good of the club.  Having this drag on over the close season will do nobody involved any good and could do the club harm.

Anyone else get ther feeling that negotions are a bit further along than stated though?  Delia appears to have pre-empted Cullums "bombshell" from yesterday with her "wait and see" comments last week.
[/quote]

How did Delia pre-empt Cullums bombshell?

It took the O.S hours and hours to respond after the story hit the newspaper stands.

I think she was caught off guard and spent all yesterday morning and part of the afternoon working out how to stamp on this offer, without Peeing off the fans too much

[g00se 25]

[quote user="Good News Gordon"] How did Delia pre-empt Cullums bombshell?It took the O.S hours and hours to respond after the story hit the newspaper stands.I think she was caught off guard and spent all yesterday morning and part of the afternoon working out how to stamp on this offer, without Peeing off the fans too much[/quote]I would think the club left it to the last minute so that Cullum would not be able to respond in time for today''s morning papers - so they would have the headlines today rather than Cullum again.

[Balham Yellow 0]

As far as I can tell Cullum has not made an offer for the club.  An abstract figure of £20m for transfers has been quoted but that is not the same as an offer to buy the club.  You cannot simply say I will put £20m into the transfer kitty so could everyone please hand over their shares and write off any loans made to the club and we''ll also ignore the wider debt position.

The reason that the Turners were able to invest without making an offer for the club in it''s entirety is that they were not looking for a controlling stake.  The law states that if any one party seeks a stake in excess of 29.9% they must make an offer to buy the club in full.  No such offer has been made or if it has the details have not been released.  End of story.

[dhickl 0]

"Well the OP did use the Delia saved us from extinction myth, calls £20,000,000 paltry (even though it''s more than double what Delia has put in over 12 years), got his sums horribly wrong (the £56m includes £20m investment for squad, the value they put on the Club at £30 per share is £36m.and overlooks the fact that Delia has for years told us it''s not commonsense to invest in football."

"The club is not even worth the £36m what with the inflated share price."

I think you guys don''t get it. Delia is not valuing the club at £36m, she''s saying that''s what''s required to take over. The club is valued at £16m, the other £20m is the repayment of debts.

[Match Day Pie 0]

Whether you agree with my original post or not, it''s good to see that there are still a lot of people on this board who can debate things sensibly. Take note, NBS.

Whatever anyone thinks the club is worth, I still believe there needs to be longer-term investment than just £20m. Money, of course, wouldn''t be unwelcome, but as a fan and season ticket holder of twenty years I''d like to know exactly what PC has planned for the next ten years.

What happens when that money runs out and he''s still majority shareholder? We need to know these things.

 

[Citizen Journalist Foghorn 0]

[quote user="Old Yellow Bird"]

Congratulations MDP for injecting a bit of realism into this debate! 

It has been deeply depressing to read all the posts from people falling over themselves to grab a bit of quick cash. MDP says £20M is nothing in today''s game - absolutely correct.  Spend that on players - and pay them with what??? 

I am a total City fan and when I heard Delia at the last AGM saying they were open to offers, I think this was genuine - and that she meant reasonable offers.  £56M is a snip Mr Cullum - pay that plus £20M for players and then you - particularly with your City credentials - would be worth talking to.

And what are we doing allowing the future of our clun to be driven by Archant - the EDP sales yesterday must have been phenomenal!  Yes, I was one of those who rushed out first thing to buy a copy, only read a story dating from way back last season in the Peter Grant era.................

The future of our club is a serious matter.  Let''s take it seriously.

 

[/quote]What you have written is absolute bile tho.  56 million for a championship club on the decline?The clubs shares are valued at 16 million.  That is the total value of the club according to its books - they increased it to this value  from about 13.3 million in october in case of an agressive takeover on relegation.The clubs debts are 16 million + 4 million to directors. That is 20 million of Debt that he will have to renegotiated by a new owner.  It will still be debt owed by the club.  2 million is the turners which they could choose to stay or pull out, by the sounds of this the turners seem to want to leave if this happens.  As 160K for two places on the board for a year is all they would have given us under these circumstances they can P off.The last 20 million is new money to be invested in the club

[Citizen Journalist Foghorn 0]

[quote user="fleckmatic"][quote user="Good News Gordon"] How did Delia pre-empt Cullums bombshell?It took the O.S hours and hours to respond after the story hit the newspaper stands.I think she was caught off guard and spent all yesterday morning and part of the afternoon working out how to stamp on this offer, without Peeing off the fans too much[/quote]I would think the club left it to the last minute so that Cullum would not be able to respond in time for today''s morning papers - so they would have the headlines today rather than Cullum again.[/quote]The usual club spin.  Delia should be thankful Cullum didnt mention this during last season as it would have caused a riot.

[Citizen Journalist Foghorn 0]

[quote user="dhickl"]"Well the OP did use the Delia saved us from extinction myth, calls £20,000,000 paltry (even though it''s more than double what Delia has put in over 12 years), got his sums horribly wrong (the £56m includes £20m investment for squad, the value they put on the Club at £30 per share is £36m.and overlooks the fact that Delia has for years told us it''s not commonsense to invest in football."

"The club is not even worth the £36m what with the inflated share price." I think you guys don''t get it. Delia is not valuing the club at £36m, she''s saying that''s what''s required to take over. The club is valued at £16m, the other £20m is the repayment of debts.[/quote]Those 20 million debts (including 2 million to the turners and 2 million to other directors including delia) would be easily renegatiated by one of the 40 richest people in the UK.  They are ignorable in this discussion.

[Citizen Journalist Foghorn 0]

[quote user="Match Day Pie"]

Whether you agree with my original post or not, it''s good to see that there are still a lot of people on this board who can debate things sensibly. Take note, NBS.

Whatever anyone thinks the club is worth, I still believe there needs to be longer-term investment than just £20m. Money, of course, wouldn''t be unwelcome, but as a fan and season ticket holder of twenty years I''d like to know exactly what PC has planned for the next ten years.

What happens when that money runs out and he''s still majority shareholder? We need to know these things.

 

[/quote]What the hell has delia et al invested these last 10 years?  From the official statement yesterday she will be recouping more than she put in when she sells up. Peter Cullum is in the top 40 richest people in the UK.  When push comes to shove if another Huckerby/Taylor situation appeared im sure he would fork out the necessary cash (rather than relying on another local businessman to pay/not get the player for the sake of 250K)

[Match Day Pie 0]

[quote user="Citizen Journalist Foghorn"][quote user="Match Day Pie"]

Whether you agree with my original post or not, it''s good to see that there are still a lot of people on this board who can debate things sensibly. Take note, NBS.

Whatever anyone thinks the club is worth, I still believe there needs to be longer-term investment than just £20m. Money, of course, wouldn''t be unwelcome, but as a fan and season ticket holder of twenty years I''d like to know exactly what PC has planned for the next ten years.

What happens when that money runs out and he''s still majority shareholder? We need to know these things.

 

[/quote]

What the hell has delia et al invested these last 10 years?  From the official statement yesterday she will be recouping more than she put in when she sells up. Peter Cullum is in the top 40 richest people in the UK. 

When push comes to shove if another Huckerby/Taylor situation appeared im sure he would fork out the necessary cash (rather than relying on another local businessman to pay/not get the player for the sake of 250K)
[/quote]

 

Er, their own money? Do you think the club has been running on magic beans?

[Match Day Pie 0]

[quote user="Citizen Journalist Foghorn"][quote user="Match Day Pie"]

Whether you agree with my original post or not, it''s good to see that there are still a lot of people on this board who can debate things sensibly. Take note, NBS.

Whatever anyone thinks the club is worth, I still believe there needs to be longer-term investment than just £20m. Money, of course, wouldn''t be unwelcome, but as a fan and season ticket holder of twenty years I''d like to know exactly what PC has planned for the next ten years.

What happens when that money runs out and he''s still majority shareholder? We need to know these things.

 

[/quote]

What the hell has delia et al invested these last 10 years?  From the official statement yesterday she will be recouping more than she put in when she sells up. Peter Cullum is in the top 40 richest people in the UK. 

When push comes to shove if another Huckerby/Taylor situation appeared im sure he would fork out the necessary cash (rather than relying on another local businessman to pay/not get the player for the sake of 250K)
[/quote]

And what''s wrong with wanting to make a profit on your investment?!

[Citizen Journalist Foghorn 0]

[quote user="Match Day Pie"]

And what''s wrong with wanting to make a profit on your investment?!

[/quote]Nothing, as long as you realise that if this happens she did not give any money to the club that she did not get back.  She did not ''throw money onto the fire''.

[Mook 0]

[quote user="Citizen Journalist Foghorn"][quote user="fleckmatic"][quote user="Good News Gordon"] How did Delia pre-empt Cullums bombshell?
It took the O.S hours and hours to respond after the story hit the newspaper stands.
I think she was caught off guard and spent all yesterday morning and part of the afternoon working out how to stamp on this offer, without Peeing off the fans too much[/quote]

I would think the club left it to the last minute so that Cullum would not be able to respond in time for today''s morning papers - so they would have the headlines today rather than Cullum again.
[/quote]

The usual club spin.  Delia should be thankful Cullum didnt mention this during last season as it would have caused a riot.
[/quote]

Spin, spin, spin. It''s all we ever bloody read about, how the "sheep" listen to the club''s spin, Doncasters spin, Delia''s spin.

And yet most of the people on this board roll over and get your tummy tickled as soon as you read the SPIN coming from Cullum''s corner. As usual, the truth is somewhere in between.....

[ricardo 7,444]

[quote user="Balham Yellow"]

As far as I can tell Cullum has not made an offer for the club.  An abstract figure of £20m for transfers has been quoted but that is not the same as an offer to buy the club.  You cannot simply say I will put £20m into the transfer kitty so could everyone please hand over their shares and write off any loans made to the club and we''ll also ignore the wider debt position.

The reason that the Turners were able to invest without making an offer for the club in it''s entirety is that they were not looking for a controlling stake.  The law states that if any one party seeks a stake in excess of 29.9% they must make an offer to buy the club in full.  No such offer has been made or if it has the details have not been released.  End of story.

[/quote]

Of course he hasn''t made an offer. I thought that was patently obvious to everyone.

Very few of you seem to understand whats going on here. PC has shaken the tree to see what over ripe apples fall out.

At least it has blown away the cobwebs from the "we''ve got lots of lovely new investment" speech.

I bet it was panic stations in the boardroom and down in Stowmarket yesterday.

[Citizen Journalist Foghorn 0]

[quote user="Mook"]

Spin, spin, spin. It''s all we ever bloody read about, how the "sheep" listen to the club''s spin, Doncasters spin, Delia''s spin.

And yet most of the people on this board roll over and get your tummy tickled as soon as you read the SPIN coming from Cullum''s corner. As usual, the truth is somewhere in between.....

[/quote]True, but we have heard so much crud from NCFC regarding ambition, people not interested in investing in championship clubs, etc etc etc that I wouldnt beleive a word that comes out of NCFC anymore.  I will be more than happy the day the current owners are given thanks for what they have achieved off the field and shown the door.  As for the Turners, well in this day and age some things do come fairly cheap as the 2 million loan it appears from the club statement they want repaying after one year should Cullum take over would make their total input 160K, some of which they would recoup from their shares.

[canary cherub 1]

[quote user="Old Yellow Bird"]

[quote user="Match Day Pie"]It''s difficult to understand why so many people here think Delia is horrible old whatever for being reluctant to release her ''stranglehold'' on the club. Common sense in ANY business would suggest you need some kind of pay back for the time and money you''ve invested into the business. If Delia is to sell, isn''t it fair that she should not do so to a paltry offer like £20m? She has saved this club from extinction and is keeping it afloat. Cullum''s offer is not good enough - if he wants to be in charge, he should buy the club outright. All or nothing - as any investor should be. Those of you that think we should bite Cullum''s hand off have contradicted yourselves horribly by accepting the first wad of cash that comes our way. You are selling your club short for the promise of a bit of bling. £20m is all very well in the short term, but will go nowhere if there is not long term investment. £20m is nothing in today''s game and will only allow us to compete in the transfer market for overpriced players. £20m is no guarantee that we can compete on the field - look at Leicester. Our club is worth at least the £56m the board have announced, and anything less is an insult.[/quote]

Congratulations MDP for injecting a bit of realism into this debate! 

It has been deeply depressing to read all the posts from people falling over themselves to grab a bit of quick cash. MDP says £20M is nothing in today''s game - absolutely correct.  Spend that on players - and pay them with what??? 

I am a total City fan and when I heard Delia at the last AGM saying they were open to offers, I think this was genuine - and that she meant reasonable offers.  £56M is a snip Mr Cullum - pay that plus £20M for players and then you - particularly with your City credentials - would be worth talking to.

And what are we doing allowing the future of our clun to be driven by Archant - the EDP sales yesterday must have been phenomenal!  Yes, I was one of those who rushed out first thing to buy a copy, only read a story dating from way back last season in the Peter Grant era.................

The future of our club is a serious matter.  Let''s take it seriously.

 

[/quote]

Steady on.  Even the board aren''t asking £56m plus £20 million for players.  And how do you arrive at the conclusion that £56m is "a snip"?  Please explain.  And why do you want someone to pay more for the club than they have to, instead of spending it on the team?

If you think £20m to spend on players is nothing, then what we have now is less than nothing.  £20m if spent wisely is enough to make us serious challengers for a place in the lower reaches of the Prem, no more than that.  We would still be fighting for survival every season.  But if it''s all right with you, I''d prefer that to a oneway ticket to League 1 which is where we are headed if things go on as they are.

The fact that this all started back in October is part of the problem OYB.  It should have been done and dusted ages ago.  We all have our opinions as to who has been stalling.

 

[Show Me What You Gooot! 0]

[quote user="ricardo"][quote user="Balham Yellow"]

As far as I can tell Cullum has not made an offer for the club.  An abstract figure of £20m for transfers has been quoted but that is not the same as an offer to buy the club.  You cannot simply say I will put £20m into the transfer kitty so could everyone please hand over their shares and write off any loans made to the club and we''ll also ignore the wider debt position.

The reason that the Turners were able to invest without making an offer for the club in it''s entirety is that they were not looking for a controlling stake.  The law states that if any one party seeks a stake in excess of 29.9% they must make an offer to buy the club in full.  No such offer has been made or if it has the details have not been released.  End of story.

[/quote]

Of course he hasn''t made an offer. I thought that was patently obvious to everyone.

Very few of you seem to understand whats going on here. PC has shaken the tree to see what over ripe apples fall out.

At least it has blown away the cobwebs from the "we''ve got lots of lovely new investment" speech.

I bet it was panic stations in the boardroom and down in Stowmarket yesterday.

[/quote]

I said about this in another thread. She thought no-one would ever fit her criteria for an investor. Then one turned up and she seemed alittle shocked by it.

[WeAreYellows49 0]

[quote user="Paint Me Yellow"][quote user="ricardo"][quote user="Balham Yellow"]

As far as I can tell Cullum has not made an offer for the club.  An abstract figure of £20m for transfers has been quoted but that is not the same as an offer to buy the club.  You cannot simply say I will put £20m into the transfer kitty so could everyone please hand over their shares and write off any loans made to the club and we''ll also ignore the wider debt position.

The reason that the Turners were able to invest without making an offer for the club in it''s entirety is that they were not looking for a controlling stake.  The law states that if any one party seeks a stake in excess of 29.9% they must make an offer to buy the club in full.  No such offer has been made or if it has the details have not been released.  End of story.

[/quote]

Of course he hasn''t made an offer. I thought that was patently obvious to everyone.

Very few of you seem to understand whats going on here. PC has shaken the tree to see what over ripe apples fall out.

At least it has blown away the cobwebs from the "we''ve got lots of lovely new investment" speech.

I bet it was panic stations in the boardroom and down in Stowmarket yesterday.

[/quote]

I said about this in another thread. She thought no-one would ever fit her criteria for an investor. Then one turned up and she seemed alittle shocked by it.

[/quote]

 

lol what I would have given to have been a fly on the wall

[Fat Barman 0]

I''d like to restate a point that''s been overlooked by many. Aside from the Director''s loans (and nobody knows if they''d demand immediate repayment), we have the £16m debt, which the club say would have to be repaid. Realistically it would, at worst, need to be refinanced - by a man who sorts out financing for takeovers of regional and national businesses for a living!He may even be considering using finance for the purchase of shares (although he appears to have sold sufficient shares in Towergate last year to cover this), which means his £20 million for player investment might be all he needs to commit from his personal fortune.Both Man Utd and Liverpool were taken over by Yanks who financed the buy-outs through borrowed money, the only question being whether the ''business'' would earn sufficient revenue to cover the repayments.Delia may be quite right to be stalling, if the cost of selling to Peter Cullum means that Norwich City Football Club is left with a new debt of upto £36 million. Unless one of the parties declares how any takeover is to be funded a little caution is called for.

[Balham Yellow 0]

It clearly isn''t patently obvious to everyone otherwise there wouldn''t be the clamour for Delia to accept the "offer".

As far as shaking the tree, he has got his answer.  The ball is firmly in his court.

[woody 0]

[quote user="Fat Barman"]I''d like to restate a point that''s been overlooked by many. Aside from the Director''s loans (and nobody knows if they''d demand immediate repayment), we have the £16m debt, which the club say would have to be repaid. Realistically it would, at worst, need to be refinanced - by a man who sorts out financing for takeovers of regional and national businesses for a living!He may even be considering using finance for the purchase of shares (although he appears to have sold sufficient shares in Towergate last year to cover this), which means his £20 million for player investment might be all he needs to commit from his personal fortune.Both Man Utd and Liverpool were taken over by Yanks who financed the buy-outs through borrowed money, the only question being whether the ''business'' would earn sufficient revenue to cover the repayments.Delia may be quite right to be stalling, if the cost of selling to Peter Cullum means that Norwich City Football Club is left with a new debt of upto £36 million. Unless one of the parties declares how any takeover is to be funded a little caution is called for.[/quote]

Thoughtful post on Pinkun shock!! The clamour from some seems to indicate they don''t care about detail and possible long term problems..

[CaptnCanary 0]

[quote user="Match Day Pie"]It''s difficult to understand why so many people here think Delia is horrible old whatever for being reluctant to release her ''stranglehold'' on the club. Common sense in ANY business would suggest you need some kind of pay back for the time and money you''ve invested into the business. If Delia is to sell, isn''t it fair that she should not do so to a paltry offer like £20m? She has saved this club from extinction and is keeping it afloat. Cullum''s offer is not good enough - if he wants to be in charge, he should buy the club outright. All or nothing - as any investor should be. Those of you that think we should bite Cullum''s hand off have contradicted yourselves horribly by accepting the first wad of cash that comes our way. You are selling your club short for the promise of a bit of bling. £20m is all very well in the short term, but will go nowhere if there is not long term investment. £20m is nothing in today''s game and will only allow us to compete in the transfer market for overpriced players. £20m is no guarantee that we can compete on the field - look at Leicester. Our club is worth at least the £56m the board have announced, and anything less is an insult.[/quote]

This post really makes you sound thick. The £56m figure is pure spin. The figure to buy the club as quoted is £16m for the shares and thats it. The £20m of debt can be renewed with the current lenders or refinanced with new lenders so thats not an issue. The £20m for players is what Cullum said he would like to put into new players but once he has bought the club he can put whatever he likes into the team. So its £16m to buy the shares and whatever he wants after that. £56m is just a pie in the sky figure invented by the club to fool anyone who doesnt think it through.

[canary cherub 1]

[quote user="Old Boy"]It''s not that the offer wasn''t worth the paper it was printed on - it wasn''t even an "offer", in the sense of an offer to buy the Club. It was an opportunist offer of money, in two stages, to buy players, with no extra sum for the shares or provision for loan repayments, and in return for that he expected total control of the Club. It was rejected, understandably, and the ball''s now in PC''s court (and has been since October) - if he''s genuine he''ll come back with a sensible offer. This Archant "bombshell" is another piece of PC opportunism - he''s waited (remember this offer was made 9 months ago) until the eve of pre-season, when we''re desperately trying to get a squad together and focus on the new season, and I don''t think it''s done the Club any good - forget the Board, I''m talking about the Club. Possibly he feels that if he destabilises it further by stirring up discontent among the fans he can get a better deal - who knows? I''m not impressed - if he''d had the best interests of the Club at heart, he''d have done a deal as soon as possible after the end of the season, so GR could look at a bringing in a better standard of player. Put up or shut up, Mr. Cullum.
[/quote]

I don''t think that''s the case Old Boy.  He makes it clear that the £20m was just for players.  He then talks about a "friendly arm wrestle over the value of the club".  This could of course mean that he thought it was worth nothing, but I doubt it.  It probably means that he wasn''t prepared to pay as much as the board wanted.  Which is exactly what you would expect in a process of negotiation.  What usually happens is that if both sides are acting in good faith, they eventually agree to meet somewhere in the middle.  But since January nothing further appears to have happened until he decided to go public yesterday. 

At the end of the day, D&M are the owners of the club not Peter Cullum.  The onus was on them to put the best interests of the club first and get the deal done.

 

[Match Day Pie 0]

[quote user="CaptnCanary"]

[quote user="Match Day Pie"]It''s difficult to understand why so many people here think Delia is horrible old whatever for being reluctant to release her ''stranglehold'' on the club. Common sense in ANY business would suggest you need some kind of pay back for the time and money you''ve invested into the business. If Delia is to sell, isn''t it fair that she should not do so to a paltry offer like £20m? She has saved this club from extinction and is keeping it afloat. Cullum''s offer is not good enough - if he wants to be in charge, he should buy the club outright. All or nothing - as any investor should be. Those of you that think we should bite Cullum''s hand off have contradicted yourselves horribly by accepting the first wad of cash that comes our way. You are selling your club short for the promise of a bit of bling. £20m is all very well in the short term, but will go nowhere if there is not long term investment. £20m is nothing in today''s game and will only allow us to compete in the transfer market for overpriced players. £20m is no guarantee that we can compete on the field - look at Leicester. Our club is worth at least the £56m the board have announced, and anything less is an insult.[/quote]

This post really makes you sound thick. The £56m figure is pure spin. The figure to buy the club as quoted is £16m for the shares and thats it. The £20m of debt can be renewed with the current lenders or refinanced with new lenders so thats not an issue. The £20m for players is what Cullum said he would like to put into new players but once he has bought the club he can put whatever he likes into the team. So its £16m to buy the shares and whatever he wants after that. £56m is just a pie in the sky figure invented by the club to fool anyone who doesnt think it through.

[/quote]

Thnaks for your kind words, fellow supporter.

The board released a statement saying how much it would cost to buy the club. It laid it out in black and white. That is not spin, it''s fact. Learn the difference between what is printed in a worded statement and what your opinion is. Then get back to us.

[CaptnCanary 0]

[quote user="Match Day Pie"][quote user="CaptnCanary"]

[quote user="Match Day Pie"]It''s difficult to understand why so many people here think Delia is horrible old whatever for being reluctant to release her ''stranglehold'' on the club. Common sense in ANY business would suggest you need some kind of pay back for the time and money you''ve invested into the business. If Delia is to sell, isn''t it fair that she should not do so to a paltry offer like £20m? She has saved this club from extinction and is keeping it afloat. Cullum''s offer is not good enough - if he wants to be in charge, he should buy the club outright. All or nothing - as any investor should be. Those of you that think we should bite Cullum''s hand off have contradicted yourselves horribly by accepting the first wad of cash that comes our way. You are selling your club short for the promise of a bit of bling. £20m is all very well in the short term, but will go nowhere if there is not long term investment. £20m is nothing in today''s game and will only allow us to compete in the transfer market for overpriced players. £20m is no guarantee that we can compete on the field - look at Leicester. Our club is worth at least the £56m the board have announced, and anything less is an insult.[/quote]

This post really makes you sound thick. The £56m figure is pure spin. The figure to buy the club as quoted is £16m for the shares and thats it. The £20m of debt can be renewed with the current lenders or refinanced with new lenders so thats not an issue. The £20m for players is what Cullum said he would like to put into new players but once he has bought the club he can put whatever he likes into the team. So its £16m to buy the shares and whatever he wants after that. £56m is just a pie in the sky figure invented by the club to fool anyone who doesnt think it through.

[/quote]

Thnaks for your kind words, fellow supporter.

The board released a statement saying how much it would cost to buy the club. It laid it out in black and white. That is not spin, it''s fact. Learn the difference between what is printed in a worded statement and what your opinion is. Then get back to us.

[/quote]

Oh so everything ever printed in the gospel truth and does not need thinking about further eh?

Cant you see for yourself that the club share value is just £16m? The existing debt would not have to be repaid but would be transferred to the new owner or refinanced by a man who has much experience and a pretty good credit rating. And he can put whatever he likes into the playing staff. So the club is worth £16m max. What bit of that dont you understand?

[Citizen Journalist Foghorn 0]

[quote user="Match Day Pie"][quote user="CaptnCanary"]

[quote user="Match Day Pie"]It''s difficult to understand why so many people here think Delia is horrible old whatever for being reluctant to release her ''stranglehold'' on the club. Common sense in ANY business would suggest you need some kind of pay back for the time and money you''ve invested into the business. If Delia is to sell, isn''t it fair that she should not do so to a paltry offer like £20m? She has saved this club from extinction and is keeping it afloat. Cullum''s offer is not good enough - if he wants to be in charge, he should buy the club outright. All or nothing - as any investor should be. Those of you that think we should bite Cullum''s hand off have contradicted yourselves horribly by accepting the first wad of cash that comes our way. You are selling your club short for the promise of a bit of bling. £20m is all very well in the short term, but will go nowhere if there is not long term investment. £20m is nothing in today''s game and will only allow us to compete in the transfer market for overpriced players. £20m is no guarantee that we can compete on the field - look at Leicester. Our club is worth at least the £56m the board have announced, and anything less is an insult.[/quote]

This post really makes you sound thick. The £56m figure is pure spin. The figure to buy the club as quoted is £16m for the shares and thats it. The £20m of debt can be renewed with the current lenders or refinanced with new lenders so thats not an issue. The £20m for players is what Cullum said he would like to put into new players but once he has bought the club he can put whatever he likes into the team. So its £16m to buy the shares and whatever he wants after that. £56m is just a pie in the sky figure invented by the club to fool anyone who doesnt think it through.

[/quote]

Thnaks for your kind words, fellow supporter.

The board released a statement saying how much it would cost to buy the club. It laid it out in black and white. That is not spin, it''s fact. Learn the difference between what is printed in a worded statement and what your opinion is. Then get back to us.

[/quote]But it isnt ''fact''  the club is valued at 16 million.  Refinancing the debt 20 million and 20 million on players.  Cullum will already have the last 40 million sorted out, that is 20 million + a 20 million loan the club owe exactly the same as is now.  It is the 16 million value of the club shares that is the sticking point I would think.

[Mook 0]

[quote user="Citizen Journalist Foghorn"][quote user="Mook"]

Spin, spin, spin. It''s all we ever bloody read about, how the "sheep" listen to the club''s spin, Doncasters spin, Delia''s spin.

And yet most of the people on this board roll over and get your tummy tickled as soon as you read the SPIN coming from Cullum''s corner. As usual, the truth is somewhere in between.....

[/quote]
True, but we have heard so much crud from NCFC regarding ambition, people not interested in investing in championship clubs, etc etc etc that I wouldnt beleive a word that comes out of NCFC anymore.  I will be more than happy the day the current owners are given thanks for what they have achieved off the field and shown the door.  As for the Turners, well in this day and age some things do come fairly cheap as the 2 million loan it appears from the club statement they want repaying after one year should Cullum take over would make their total input 160K, some of which they would recoup from their shares.
[/quote]

I agree entirely, I don''t trust a word that comes out of the club.

But to suddenly say "That''s all spin, but THIS definitely isn''t" is utter nonsense. We live in an age where bidding is played out in the national and international press. Everything you hear from now until the club changes hands will be aimed at harming/promoting the different parties.

A film quote that springs to mind;

"He is the Messiah. I should know, I''ve followed a few".

[Match Day Pie 0]

[quote user="CaptnCanary"][quote user="Match Day Pie"][quote user="CaptnCanary"]

[quote user="Match Day Pie"]It''s difficult to understand why so many people here think Delia is horrible old whatever for being reluctant to release her ''stranglehold'' on the club. Common sense in ANY business would suggest you need some kind of pay back for the time and money you''ve invested into the business. If Delia is to sell, isn''t it fair that she should not do so to a paltry offer like £20m? She has saved this club from extinction and is keeping it afloat. Cullum''s offer is not good enough - if he wants to be in charge, he should buy the club outright. All or nothing - as any investor should be. Those of you that think we should bite Cullum''s hand off have contradicted yourselves horribly by accepting the first wad of cash that comes our way. You are selling your club short for the promise of a bit of bling. £20m is all very well in the short term, but will go nowhere if there is not long term investment. £20m is nothing in today''s game and will only allow us to compete in the transfer market for overpriced players. £20m is no guarantee that we can compete on the field - look at Leicester. Our club is worth at least the £56m the board have announced, and anything less is an insult.[/quote]

This post really makes you sound thick. The £56m figure is pure spin. The figure to buy the club as quoted is £16m for the shares and thats it. The £20m of debt can be renewed with the current lenders or refinanced with new lenders so thats not an issue. The £20m for players is what Cullum said he would like to put into new players but once he has bought the club he can put whatever he likes into the team. So its £16m to buy the shares and whatever he wants after that. £56m is just a pie in the sky figure invented by the club to fool anyone who doesnt think it through.

[/quote]

Thnaks for your kind words, fellow supporter.

The board released a statement saying how much it would cost to buy the club. It laid it out in black and white. That is not spin, it''s fact. Learn the difference between what is printed in a worded statement and what your opinion is. Then get back to us.

[/quote]

Oh so everything ever printed in the gospel truth and does not need thinking about further eh?

Cant you see for yourself that the club share value is just £16m? The existing debt would not have to be repaid but would be transferred to the new owner or refinanced by a man who has much experience and a pretty good credit rating. And he can put whatever he likes into the playing staff. So the club is worth £16m max. What bit of that dont you understand?

[/quote]

 

It doesn''t matter what you or anyone thinks the valuation is - the simple fact is that the club have said they want a minimum of £56m to sell. They are the sellers, they name the price. What''s so hard to understand about that? It''s not ''spin''. It''s an asking price.

Whatever you think of the board, and whether it will ever happen, it seems a pretty sensible ask to me - clear our (relatively small) debts and put money into the playing staff. Isn''t that what we all want? How could you not?

[Match Day Pie 0]

[quote user="Mook"][quote user="Citizen Journalist Foghorn"][quote user="Mook"]

Spin, spin, spin. It''s all we ever bloody read about, how the "sheep" listen to the club''s spin, Doncasters spin, Delia''s spin.

And yet most of the people on this board roll over and get your tummy tickled as soon as you read the SPIN coming from Cullum''s corner. As usual, the truth is somewhere in between.....

[/quote]
True, but we have heard so much crud from NCFC regarding ambition, people not interested in investing in championship clubs, etc etc etc that I wouldnt beleive a word that comes out of NCFC anymore.  I will be more than happy the day the current owners are given thanks for what they have achieved off the field and shown the door.  As for the Turners, well in this day and age some things do come fairly cheap as the 2 million loan it appears from the club statement they want repaying after one year should Cullum take over would make their total input 160K, some of which they would recoup from their shares.
[/quote]

I agree entirely, I don''t trust a word that comes out of the club.

But to suddenly say "That''s all spin, but THIS definitely isn''t" is utter nonsense. We live in an age where bidding is played out in the national and international press. Everything you hear from now until the club changes hands will be aimed at harming/promoting the different parties.

A film quote that springs to mind;

"He is the Messiah. I should know, I''ve followed a few".

[/quote]

 

Well said. You can''t trust anything that comes from the club. We need to be told where we''re at with this, and the masonic way that things seem to go on at Norwich is only making the peasants revolt. PC was right about getting a supporter on the board, but you can guarantee he or she would be hand-picked, well connected and sworn to secrecy...